Proof of Claim
The proof of claim form is very important…
Any creditor may file a document with the bankruptcy court describing the amount of money owed to the creditor by the debtor as well as describing any security for such claim. Claims can be filed in any case under any chapter of the Bankruptcy Code. Chapter 7 cases are either corporate or individual liquidations. Chapter 11 cases are usually reorganizations of debt by corporations. Chapter 13 cases are usually reorganizations of debt by individuals. A creditor should always file a claim prior to the bar date set by the bankruptcy court in any particular case. Failure to file a claim may result in a creditor’s claim being disallowed and such creditor receiving nothing out of the bankruptcy case when such creditor may have had a right to receive certain payments from the case.
Your Legal Question
Please use the form below to ask any question. We will attempt to answer as quickly as possible.